Economics (M.Phil./Ph.D.) 2017 Panjab University Entrance Exam With Answers

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29.

The total cost function and the market demand function of a competitive firm are C=1/3x3 – 10x2 + 9x + 1000 and x= (12-p)/ 9 respectively. The level of output at which profit will be maximised

A: 1
B: 2
C: 3
D: 4

The answer is: C

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